© Dukascopy Bank SA
- Bank of New Zealand (based on the Australian)
Pair's Outlook
The Aussie has declined against the Greenback through this week, after the exceptionally good last week. For the time being, the pair is hovering around the 0.86 mark and it even slipped below it earlier today. According to the weekly technical indicators, the Aussie is likely to trail even lower that could mean that the pair drops below 0.8540 (this year's low). We see the pair trading above the 0.85 mark; although, the level could be touched.
Traders' Sentiment
Most of the SWFX traders' believe that the Aussie is heavily undervalued, being that as many as 71% of open positions are currently long. As for the orders, the difference between buy (37%) and sell (63%) ones is widening.
© Dukascopy Bank SA